Refer to Figure 9.3. If the market is in equilibrium, total producer surplus is
A) $2.
B) $3.
C) $200.
D) $400.
E) $600.
D
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Everything else held constant, a balanced budget increase in government spending (that is, an increase in government spending that is matched by an identical increase in net taxes) will
A) increase aggregate demand, but not by as much as if just government spending increases. B) increase aggregate demand by more than if just government spending increases. C) not affect aggregate demand. D) decrease aggregate demand.
The 1996 legislation put significant emphasis on family structure
Indicate whether the statement is true or false
Price-fixing agreements among competing firms are a violation of the Clayton Antitrust Act
a. True b. False
A characteristic of a competitive labor market is
A. an equilibrium wage and quantity supplied. B. an overall reduction in employment due to firms having market power. C. high levels of unemployment. D. labor supply changing as the wage changes.